Description

Saudi Arabia Information Technology Q1 2018 Description

BMI View: Saudi Arabian IT spending contracted in 2015 and 2016 as the fall in the oil price filtered through to weaker demand via lower confidence levels - but the market is expected to return to stronger growth from 2018 based on easing of fiscal austerity, higher domestic and foreign investor sentiment, and the modernisation initiatives related to Vision 2030. The elevated position and strategies associated with Crown Prince Mohammed bin Salman have however also introduced long term downside risks for the stability of the ruling class and wider society if the agenda fails.